If finances have been holding you back from starting a course, you can now apply for a loan to help with the cost of course fees! You must be enrolling onto an eligible course at Level 3 or above.
Your household income isn’t taken into account and there’s no credit check. You will not have to pay anything back until you have finished your course and are earning over £25000 a year.
How much can you get?
Which courses are eligible?
Courses at Level 3 or above qualify (such as a Certificate/Diploma or an Advanced or Higher Apprenticeship).
To get a loan you must be:
If you are aged 19 – 23 and already have a full Level 3 qualification, you can apply for an Advanced Learner Loan.
How many loans can I apply for?
You can apply for more than one Advanced Learning Loan (up to 4 in total), You can also receive a loan for courses of the same level and type (e.g. Level 3 Diploma in Hair and Level 3 Diploma in Barbering). You’ll be able to take out further loans to complete different types or levels of eligible courses.
How to apply?
You can apply for apply for an Advanced Learner Loan here.
You will be able to request the course code from our student finance team from May for courses starting from 1st September 2018.
What you need to know
You will need a National Insurance number before any money can be paid and should have this available to enter on your loan application form. You need your passport details or another form of identity to apply – e.g. your birth certificate.
Paying back your loan
You pay back your loan (plus interest) when you have finished your course and start earning more than £25,000 a year. If your income drops below this amount your repayment will stop. Each month you pay back 9% of any income over £25,000.
Leaving or changing your course
If you leave or change your course after 2 weeks you will have to pay back any money that has been paid to the College.
Access to Higher Education (HE)
If you get a loan to cover tuition fees for an Access to HE course (e.g. a course that will prepare you for Higher Education) and then successfully complete a higher education course, you will not have to repay the remaining loan for the Access course.
For more details about Advanced Learning Loans contact the Student Support or Advice and Guidance Teams on 01922 657000.